The Declining Equity Premium : what Role Does Macroeconomic Risk Play?

Aggregate stock prices, relative to virtually any indicator of fundamental value, soared to unprecedented levels in the 1990s. Even today, after the market declines since 2000, they remain well above historical norms, why?

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Year of publication:	2004-09-24
Authors:	Lettau, Martin ; Ludvigson, Sydney C. ; Wachter, Jessica A.
Publisher:	Salomon Center <New York, NY>
Subject:	Kapitalmarkttheorie \| Risikotheorie

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Extent:	492544 bytes 60 p. application/pdf
Series:	NYU Salomon Center for the Study of Financial Institutions - Working Paper Series Arbeitspapier ; S-MF-04-08
Type of publication:	Book / Working Paper
Language:	English
Classification:	G12 - Asset Pricing ; Financial theory ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005846981